NEW YORK (

TheStreet

) --

Acme Packet Incorporated

(Nasdaq:

APKT

) hit a new 52-week high Friday as it traded at $76 compared with its previous 52-Week high of $75.82. Acme Packet is changing hands at $75.99 with 774,100 shares traded as of 10:46 a.m. ET. Average volume has been 2.1 million shares over the past 30 days.

Acme Packet has a market cap of $4.5 billion and is part of the

technology

sector and

telecommunications

industry. Shares are up 37% year to date as of the close of trading on Thursday.

Acme Packet, Inc. provides session border controllers (SBCs) that enable service providers, enterprises, and contact centers to deliver interactive communications and data services across Internet protocol (IP) network borders in the United States, Canada, and internationally. The company has a P/E ratio of 109.6, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Acme Packet as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Acme Packet Ratings Report

.

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